The dark web is often discussed vaguely or inaccurately, but is a key enabler of the fraud economy, as a streamlined source of trade in payment card and personal data. On the dark web, cyber criminals have developed a "supply chain" of fraud: professionalizing the process, operating enterprises at scale, and passing their products on to the buyers in wholesale batches. Fraudsters have a range of resources at their disposal to help them maximize the value of these accounts, and the communities of cybercriminals collaboratively develop new ways to grow and automate their operations.

Across the dark web, payment cards and various types of personal data appear for sale in hundreds of markets dedicated exclusively to trading and selling stolen data. By mapping the supply chain of fraud on the dark web, organizations can learn where to focus their risk mitigation resources and how best to assess exposure of sensitive data.

Disrupting the Supply Chain of Fraud in the Dark Web Data Economy

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Disrupting the Supply Chain of Fraud in the Dark Web Data Economy

Munish Walther-Puri

Chief Research Officer and Head of Intelligence Analytics, Terbium Labs

Walther-Puri brings his expertise in security, intelligence analysis, cyber risk and fraud to his role, where he oversees a team of research and intelligence analysts responsible for dark web data monitoring. His team produces accessible, automated intelligence to help clients minimize the risk of data exposure. Prior to joining Terbium Labs, Walther-Puri was the founder of Presearch Strategy, a New York City-based firm dedicated to applying technology and analytics to political risk, strategic intelligence and cybersecurity through training and consulting projects. Throughout his career, Walther-Puri has worked as an analyst, consultant and trainer in strategic intelligence and analysis for a major bank, a big data analytics startup, political-risk consultancies and think tanks. He is an active member of the analyst and intelligence community, a board member of Women 2.0, a council member of the State Department's Overseas Security Advisory Council for Europe, and President of the Fletcher Club of New York.